How to buy a house if you are young and have no savings
If you are between 18 and 35 years old, you can apply for the Emancipation Loan from the Catalan Institute of Finance, which can finance you up to €50,000.
Would you like to buy an apartment or a house but don't have any savings? If you're between 18 and 35 years old and live in Catalonia, you can now apply for the Emancipation Loan, which can finance up to €50,000 toward the down payment on your first home.
- It's interest-free and covers 20% of the home's value.
- You don't have to pay anything back until you finish paying off the mortgage.
- Once the mortgage is paid, you have five years to repay the loan, with monthly installments at 0% interest.
- The house becomes a limited-price public housing
If you are between 18 and 35 years old and are registered in Catalonia, you can now apply for it at theCatalan Institute of Finance.
I prefer a rental apartment
If you're young and looking for a rental apartment, you have a maximum rental price thanks to the tense market. Tense markets are areas where rental prices have risen significantly in recent years and where the Generalitat (Catalan government) has decided to limit prices. In Catalonia, there are more than 270 municipalities with this classification, divided into two zones.
The maximum rent is calculated using the rental price reference index, depending on the area and the apartment's characteristics. This index gives a minimum and a maximum value. The rent cannot exceed the maximum. On the website of Department of Housing You can find out if your apartment is in a tense market area and what price it should have.
